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re: Baby Boomers: The Entitled Generation?
Posted on 8/28/15 at 10:19 am to Lou Pai
Posted on 8/28/15 at 10:19 am to Lou Pai
quote:
Monetary policy has very little to do with those areas. The only way to measure inflation is to compare like-for-like, which is why measures like the CPI are used to understand the cost of living. The reasons those 3 aspects of the economy may seem inflated are idiosyncratic, with real estate being the only part that is at least moderately affected by monetary policy.
Aside from the fact that monetary policy isn't even decided by some democratic process, it's ridiculous to assume your average baby boomer knows what the hell it even is, especially when the millennial citing it clearly doesn't. That makes blaming them so idiotic.
I know I'm going down the rabbit hole here a little bit, but it just goes to show you how ridiculous people are about assigning blame to entire generations of people
You are correct that healthcare really isn't, but I would probably argue education - higher education, at least - is affected by monetary policy as well. Cheap dollars have to flow somewhere, and people still largely see higher education as an investment vehicle.
I think the larger point - that there are huge hidden costs for this generation that didn't exist for prior generations - still stands. I'd agree with you that monetary policy only plays a small part.
1
Posted on 8/28/15 at 10:29 am to AbuTheMonkey
But inflation is good for young people and bad for old people. 
For education, it's not like there was some grand scheme devised by 60 yr olds to drive up tuition. Yeah there are problems with the system, and academia is likely making way too much money off these kids chasing degrees, but it is still a supply-demand issue.
But yeah I agree, while we millennials suck at a lot of things, we are ultimately shaped by our environment and were probably dealt a rough hand. The future of the economy looks to be pretty tough, and our kids' generation is going to be in pretty big trouble IMO. But that's not the premise of the thread, is it?
For education, it's not like there was some grand scheme devised by 60 yr olds to drive up tuition. Yeah there are problems with the system, and academia is likely making way too much money off these kids chasing degrees, but it is still a supply-demand issue.
But yeah I agree, while we millennials suck at a lot of things, we are ultimately shaped by our environment and were probably dealt a rough hand. The future of the economy looks to be pretty tough, and our kids' generation is going to be in pretty big trouble IMO. But that's not the premise of the thread, is it?
This post was edited on 8/28/15 at 10:31 am
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